RBC Asset Management Inc. and Phillips, Hager & North May sales results

    TORONTO, June 2 /CNW/ - RBC Asset Management Inc. (RBC AM) and Phillips,
Hager & North (PH&N) announced May net sales of $665 million. Money market
funds had net sales of $240 million and long-term funds had net sales of $425
million. Assets under management increased by $3.4 billion, or 3.4 per cent,
in May.
    "We are encouraged to see a continuation of the trend of investors
returning to long-term funds," said Doug Coulter, president of RBC AM. "Our
RBC and PH&N fund line-ups offer a range of options for investors who are
looking to re-align their portfolios with their long-term plans."

    About RBC Asset Management, Phillips, Hager & North and RBC Wealth

    Combined, RBC Asset Management Inc. (RBC AM) and Phillips, Hager & North
Investment Management Ltd. (PH&N) have $101 billion in IFIC-reported mutual
fund assets under management and an additional $51 billion in other
institutional and private client assets under management. RBC AM won the
Lipper Awards for "Best Bond Fund Family" in 2009 and "Best Overall Fund
Group" in 2007 and 2008; PH&N won for "Best Bond Fund Family" in 2007 and
    RBC Wealth Management directly serves affluent and high net worth clients
in Canada, the United States, Latin America, Europe and Asia with a full suite
of investment, trust and other wealth management solutions. The business also
provides asset management products and services directly and through RBC and
third-party distributors to institutional and individual clients, and has more
than $480 billion of assets under administration, more than $230 billion of
assets under management and nearly 4,500 financial consultants, advisors,
private bankers and trust officers.

For further information:

For further information: Chris Dotson, RBC Global Asset Management
Communications, (604) 408-6009; Kathy Bevan, RBC Media Relations, (416)

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890